The Millionaire Mind

To become a millionaire, you have to think like one.
The Millionaire Mind shows you how. Also available:
The Millionaire Next Door.

4 out of 5 stars

It's a long case study, but good

By
Insane
on
23-11-2015

The Barefoot Investor for Families

The Only Kids’ Money Guide You’ll Ever Need

By:
Scott Pape

Narrated by:
Scott Pape

Length: 5 hrs and 27 mins

Unabridged

Overall

5 out of 5 stars
256

Performance

5 out of 5 stars
237

Story

5 out of 5 stars
237

Barefoot Investor for Families is aimed fairly and squarely at parents, grandparents, and basically anyone who read that book and said: 'Why the hell wasn't I taught this years ago?' Scott lays out 10 money milestones kids need to have nailed before they leave home, and it's all structured around one family 'money meal' each week.

5 out of 5 stars

This is a good book about Money

By
Kindle Customer
on
06-10-2018

The Richest Man in Babylon

By:
George S. Clason

Narrated by:
Grover Gardner

Length: 4 hrs and 4 mins

Unabridged

Overall

4.5 out of 5 stars
693

Performance

4.5 out of 5 stars
611

Story

4.5 out of 5 stars
609

A modern day classic,
The Richest Man in Babylon dispenses financial advice through a collection of parables set in ancient Babylon. These famous "Babylonian parables" offer an understanding of - and solution to - a lifetime's worth of personal financial problems, and hold the secrets to acquiring money, keeping money, and earning more money.

5 out of 5 stars

The perfect primer for the accumulation and retention of wealth

By
Anonymous User
on
23-04-2018

The Warren Buffett Way

3rd Edition

By:
Robert Hagstrom

Narrated by:
Stephen Hoye

Length: 10 hrs and 31 mins

Unabridged

Overall

4.5 out of 5 stars
308

Performance

4.5 out of 5 stars
268

Story

4.5 out of 5 stars
265

Warren Buffett remains one of the most sought-after and watched figures in business today. He has become a billionaire and investment sage by buying chunks of companies and holding onto them, managing them as businesses, and eventually reaping huge profits for himself and investors in Berkshire Hathaway. The first two editions of
The Warren Buffett Way gave investors their first in-depth look at the innovative investment and business strategies behind the spectacular success of living legend Warren E. Buffett.

5 out of 5 stars

Great advice

By
Bradley
on
16-12-2016

The Barefoot Investor

The Only Money Guide You'll Ever Need

By:
Scott Pape

Narrated by:
Scott Pape

Length: 6 hrs and 26 mins

Unabridged

Overall

5 out of 5 stars
7,086

Performance

5 out of 5 stars
6,301

Story

5 out of 5 stars
6,250

This is the only money guide you'll ever need. That's a bold claim, given there are already thousands of finance books on the shelves. So what makes this one different? You'll get a step-by-step formula: open this account, then do this; call this person, and say this; invest money here and not there. All with a glass of wine in your hand.

5 out of 5 stars

Best advice ever!

By
Anonymous User
on
17-06-2018

Rich Dad Poor Dad

What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not!

By:
Robert T. Kiyosaki

Narrated by:
Tim Wheeler

Length: 6 hrs and 9 mins

Unabridged

Overall

4.5 out of 5 stars
1,884

Performance

4.5 out of 5 stars
1,597

Story

4.5 out of 5 stars
1,591

Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. With perspectives that often contradict conventional wisdom, Robert has earned a reputation for straight talk, irreverence and courage. He is regarded worldwide as a passionate advocate for financial education. According to Kiyosaki, "The main reason people struggle financially is because they have spent years in school but learned nothing about money."

5 out of 5 stars

No wonder everyone recommends it!!

By
Anonymous User
on
26-01-2018

The Millionaire Mind

By:
Thomas J. Stanley Ph.D.,
William D. Danko Ph.D.

Narrated by:
Cotter Smith

Length: 12 hrs and 20 mins

Unabridged

Overall

5 out of 5 stars
32

Performance

4.5 out of 5 stars
27

Story

4.5 out of 5 stars
27

To become a millionaire, you have to think like one.
The Millionaire Mind shows you how. Also available:
The Millionaire Next Door.

4 out of 5 stars

It's a long case study, but good

By
Insane
on
23-11-2015

The Barefoot Investor for Families

The Only Kids’ Money Guide You’ll Ever Need

By:
Scott Pape

Narrated by:
Scott Pape

Length: 5 hrs and 27 mins

Unabridged

Overall

5 out of 5 stars
256

Performance

5 out of 5 stars
237

Story

5 out of 5 stars
237

Barefoot Investor for Families is aimed fairly and squarely at parents, grandparents, and basically anyone who read that book and said: 'Why the hell wasn't I taught this years ago?' Scott lays out 10 money milestones kids need to have nailed before they leave home, and it's all structured around one family 'money meal' each week.

5 out of 5 stars

This is a good book about Money

By
Kindle Customer
on
06-10-2018

The Richest Man in Babylon

By:
George S. Clason

Narrated by:
Grover Gardner

Length: 4 hrs and 4 mins

Unabridged

Overall

4.5 out of 5 stars
693

Performance

4.5 out of 5 stars
611

Story

4.5 out of 5 stars
609

A modern day classic,
The Richest Man in Babylon dispenses financial advice through a collection of parables set in ancient Babylon. These famous "Babylonian parables" offer an understanding of - and solution to - a lifetime's worth of personal financial problems, and hold the secrets to acquiring money, keeping money, and earning more money.

5 out of 5 stars

The perfect primer for the accumulation and retention of wealth

By
Anonymous User
on
23-04-2018

The Warren Buffett Way

3rd Edition

By:
Robert Hagstrom

Narrated by:
Stephen Hoye

Length: 10 hrs and 31 mins

Unabridged

Overall

4.5 out of 5 stars
308

Performance

4.5 out of 5 stars
268

Story

4.5 out of 5 stars
265

Warren Buffett remains one of the most sought-after and watched figures in business today. He has become a billionaire and investment sage by buying chunks of companies and holding onto them, managing them as businesses, and eventually reaping huge profits for himself and investors in Berkshire Hathaway. The first two editions of
The Warren Buffett Way gave investors their first in-depth look at the innovative investment and business strategies behind the spectacular success of living legend Warren E. Buffett.

5 out of 5 stars

Great advice

By
Bradley
on
16-12-2016

The Barefoot Investor

The Only Money Guide You'll Ever Need

By:
Scott Pape

Narrated by:
Scott Pape

Length: 6 hrs and 26 mins

Unabridged

Overall

5 out of 5 stars
7,086

Performance

5 out of 5 stars
6,301

Story

5 out of 5 stars
6,250

This is the only money guide you'll ever need. That's a bold claim, given there are already thousands of finance books on the shelves. So what makes this one different? You'll get a step-by-step formula: open this account, then do this; call this person, and say this; invest money here and not there. All with a glass of wine in your hand.

5 out of 5 stars

Best advice ever!

By
Anonymous User
on
17-06-2018

Rich Dad Poor Dad

What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not!

By:
Robert T. Kiyosaki

Narrated by:
Tim Wheeler

Length: 6 hrs and 9 mins

Unabridged

Overall

4.5 out of 5 stars
1,884

Performance

4.5 out of 5 stars
1,597

Story

4.5 out of 5 stars
1,591

Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. With perspectives that often contradict conventional wisdom, Robert has earned a reputation for straight talk, irreverence and courage. He is regarded worldwide as a passionate advocate for financial education. According to Kiyosaki, "The main reason people struggle financially is because they have spent years in school but learned nothing about money."

5 out of 5 stars

No wonder everyone recommends it!!

By
Anonymous User
on
26-01-2018

The Intelligent Investor Rev Ed.

By:
Benjamin Graham

Narrated by:
Luke Daniels

Length: 17 hrs and 48 mins

Unabridged

Overall

4.5 out of 5 stars
184

Performance

4.5 out of 5 stars
159

Story

4.5 out of 5 stars
158

The greatest investment advisor of the 20th century, Benjamin Graham taught and inspired people worldwide. Graham's philosophy of "value investing" - which shields investors from substantial error and teaches them to develop long-term strategies - has made
The Intelligent Investor the stock market Bible ever since its original publication in 1949.

4 out of 5 stars

Ideal for paperback

By
Bhavik
on
27-06-2016

The Total Money Makeover

A Proven Plan for Financial Fitness

By:
Dave Ramsey

Narrated by:
Dave Ramsey

Length: 3 hrs and 41 mins

Abridged

Overall

4.5 out of 5 stars
165

Performance

4.5 out of 5 stars
142

Story

4.5 out of 5 stars
140

Okay, folks, do you want to turn those fat and flabby expenses into a well-toned budget? Do you want to transform your sad and skinny little bank account into a bulked-up cash machine? Then get with the program, people. There's one sure way to whip your finances into shape, and that's with
The Total Money Makeover. It's the simplest, most straightforward game plan for completely making over your money habits. And it's based on results, not pie-in-the-sky fantasies.

2 out of 5 stars

Didn't get enough out of it

By
Carla
on
17-12-2015

Think and Grow Rich

By:
Napoleon Hill

Narrated by:
Erik Synnestvedt

Length: 9 hrs and 35 mins

Unabridged

Overall

4.5 out of 5 stars
805

Performance

4.5 out of 5 stars
674

Story

4.5 out of 5 stars
670

Think and Grow Rich is the number-one inspirational and motivational classic for individuals who are interested in furthering their lives and reaching their goals by learning from important figures in history. The text read in this audiobook is the original 1937 edition written by Napoleon Hill and inspired by Andrew Carnegie - and while it has often been reproduced, no updated version has ever been able to compete with the original.

5 out of 5 stars

Awesome!!

By
Amazon Customer
on
23-01-2017

The Little Book of Common Sense Investing

The Only Way to Guarantee Your Fair Share of Stock Market Returns, 10th Anniversary Edition

By:
John C. Bogle

Narrated by:
L. J. Ganser

Length: 5 hrs and 50 mins

Unabridged

Overall

4.5 out of 5 stars
29

Performance

4 out of 5 stars
24

Story

4 out of 5 stars
24

The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500.

5 out of 5 stars

Best book on stock market investing

By
Anand Kumar Singh
on
04-05-2018

Your Money or Your Life

By:
Vicki Robin,
Joe Dominguez,
Mr. Money Mustache - foreword

Narrated by:
Vicki Robin

Length: 11 hrs and 21 mins

Unabridged

Overall

4.5 out of 5 stars
28

Performance

4.5 out of 5 stars
23

Story

4.5 out of 5 stars
23

For more than 25 years, Your Money or Your Life has been considered the go-to book for taking back your life by changing your relationship with money. Hundreds of thousands of people have followed this nine-step program, learning to live more deliberately and meaningfully with Vicki Robin’s guidance. This fully revised and updated edition with a foreword by Mr. Money Mustache is the ultimate makeover of this best-selling classic, ensuring that its time-tested wisdom applies to people of all ages.

2 out of 5 stars

Long winded.

By
Anonymous User
on
20-09-2018

Rich Dad's Cashflow Quadrant

Guide to Financial Freedom

By:
Robert T. Kiyosaki

Narrated by:
Tim Wheeler

Length: 8 hrs and 48 mins

Unabridged

Overall

5 out of 5 stars
397

Performance

5 out of 5 stars
342

Story

4.5 out of 5 stars
339

Rich Dad’s Cashflow Quadrant reveals how some people work less, earn more, pay less in taxes, and learn to become financially free.

5 out of 5 stars

Brilliant as usual

By
Daniel
on
11-06-2015

The Simple Path to Wealth

Your Road Map to Financial Independence and a Rich, Free Life

By:
JL Collins

Narrated by:
JL Collins,
Peter Adeney

Length: 6 hrs and 38 mins

Unabridged

Overall

4.5 out of 5 stars
35

Performance

5 out of 5 stars
29

Story

4.5 out of 5 stars
29

This book grew out of a series of letters to my daughter concerning various things - mostly about money and investing - she was not yet quite ready to hear. Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical.

5 out of 5 stars

Love the book and love the narration

By
Starbuck
on
14-11-2018

Rich Dad's Guide to Investing

What the Rich Invest In That the Poor and Middle Class Do Not!

By:
Robert T. Kiyosaki

Narrated by:
Tim Wheeler

Length: 14 hrs and 27 mins

Unabridged

Overall

4.5 out of 5 stars
243

Performance

4.5 out of 5 stars
203

Story

4.5 out of 5 stars
202

"Investing means different things to different people. In fact, there are different investments for the rich, poor, and middle class.
Rich Dad’s Guide to Investing is a long-term guide for anyone who wants to become a rich investor and invest in what the rich invest in. As the title states, it is a "guide" and offers no guarantees... only guidance.” (Robert Kiyosaki)

5 out of 5 stars

Awesome! Just like his other great books!

By
Daniel
on
17-05-2015

Unshakeable

Your Financial Freedom Playbook

By:
Tony Robbins

Narrated by:
Tony Robbins,
Jeremy Bobb

Length: 7 hrs and 21 mins

Unabridged

Overall

4.5 out of 5 stars
728

Performance

4.5 out of 5 stars
623

Story

4.5 out of 5 stars
623

After interviewing 50 of the world's greatest financial minds and penning the number-one
New York Times best seller
Money: Master the Game, Tony Robbins returns with a step-by-step playbook, taking you on a journey to transform your financial life and accelerate your path to financial freedom. No matter your salary, your stage of life, or when you started, this book will provide the tools to help you achieve your financial goals more rapidly than you ever thought possible.

Revolutionise your life one day at a time with this empowering audiobook, designed for men and women, which provides simple strategies for each element of your day. Marcus Aubrey, author of the book, is CEO of Onnit, a human performance company that he has built into one of the fastest growing companies in the world. How can we get the most out of our body and mind on a daily basis? Want to change your life for the better? Aubrey Marcus answers these questions in this audiobook, which guides the listener to optimise each moment of the day.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.

5 out of 5 stars

I was skeptical... but this book is the real deal

By
Anonymous User
on
13-05-2018

Secrets of the Millionaire Mind

Mastering the Inner Game of Wealth

By:
T. Harv Eker

Narrated by:
Charles Constant

Length: 5 hrs and 10 mins

Unabridged

Overall

5 out of 5 stars
242

Performance

5 out of 5 stars
207

Story

4.5 out of 5 stars
206

Have you ever wondered why some people seem to get rich easily while others are destined for lives of financial struggle? Is the difference found in their education, intelligence, skills, timing, work habits, contacts, luck, or choice of jobs, businesses, or investments? The shocking answer is: none of the above! In his groundbreaking
Secrets of the Millionaire Mind, T. Harv Eker states, "Give me five minutes, and I can predict your financial future for the rest of your life!"

5 out of 5 stars

Highly recommended

By
Vanessa
on
11-08-2016

Stop Acting Rich

And Start Living Like a Real Millionaire

By:
Thomas J. Stanley

Narrated by:
Fred Stella

Length: 8 hrs and 26 mins

Unabridged

Overall

4.5 out of 5 stars
7

Performance

5 out of 5 stars
6

Story

5 out of 5 stars
5

Best-selling author of
The Millionaire Next Door and
The Millionaire Mind and leading authority on the wealthy, Dr. Thomas Stanley uncovers the truth that few people become rich by way of a high income, and even fewer high-income people are truly rich. The good news is that almost anyone can become wealthy - even without a super high income. Just stop acting...and instead start living like a rich person.

Publisher's Summary

Who are the rich in this country? What do they do? How do they invest? How did they get rich? Can you ever become one of them? Get the answers in
The Millionaire Next Door, the never-before-told story about wealth in America. You'll be surprised by what you find out.

5 mins real valuable content explained in 8 hours

Too many examples. It needs an hour to explain a simple concept. I had to speed up, fast forward, eventually, skip charter... I don't recommend to buy. It's better to find some abstract online. It saves you money and your time.

Not what you though.

Really enjoyed this piece. It's been on my wish list for a while. Going in I knew that it was going to cover common sense things, that one would have already know, had one read any other books about financial freedom and accumulating wealth.What I enjoyed was the stat's. This is, in essence the survey results of the affluent in America. The authors have sifted through the raw data to provide some nuggets of value to the readers.

My only complaint, is the data is fairly old. Would be very interested in updated stat's on this topic.

Eye opening!

Opens your eyes

This book opened my eyes to the way that the rich live. Just because you look rich and wealthy doesn’t mean you are. It provides valuable information on how to become successful in life and in wealth. It provides the reader with lots of do’s and do nots to get you on the path to successful living and reaping the rewards of what you sew.

A little conflicted.

A great book to inspire frugality but with dubious social conscience. I can never really get my head around the way Americans celebrate people who construct their lives around minimising their tax and thus their contribution to the maintenance of a healthy society. Still there are good things to be gained from the book, especially inoculating yourself against the lure of so called prestige products.

Fantastic insight into America’s truly wealthy

This study provides an insight into the habits that helped those in America to achieve significant wealth in one generation. A pertinent read for those looking for practical long term tips for creating wealth. Statistics quoted get a bit repetitive. This book Should sit in everyone’s financial libarary.

Sort by:

Overall

4 out of 5 stars

Stephen Dix

30-03-2005

Its OK to drive a Taurus!!

#1.
I have always tried to become rich so I could drive a great car. This book makes it simple. The extra $10k I might spend on a luxury import will translate into $100k less I'll have 15 years from now. Yeah, I get it now.

#2.
I thought that because I ran out of money at the end of the month that I must be saving as much as I could afford at the beginning of the month. Truth is, I am spending whatever is left. Simply put more away and I will be in the same position at the end of the month, penniless but with a higher net worth.

#3.
Finally, I learned that the govt taxes earnings and not necessarily net worth. Once I calculated that I was really paying 40% of my net worth in income taxes, it became painfully obvious that simply increasing my net worth contributions will automatically reduce my income taxes and therefore burn down this 40% ratio from both ends.

I guess I always knew all this, but apparently I needed this great book to tell me knowing but not doing is just as bad as not knowing at all. So if you say to yourself,'I already know most of this stuff', then look around and ask yourself 'Am I the Millionaire Next Door?'.

127 of 131 people found this review helpful

Overall

3 out of 5 stars

Performance

3 out of 5 stars

Story

3 out of 5 stars

Jeffrey

13-05-2016

A good place to start but watch out!

If you wish to retire as a paper millionaire, the basic advice presented in this book is sound, particularly if you happen to have disposable income. Careful planning, living below one's means, adequate income and proper investing can lead to economic self sufficiency. The book provides many examples of folks who did, indeed find financial success.

But there are issues with some of the advice the authors provide. Single minded dedication to amassing wealth is often penny wise and pound foolish. Living in better neighborhoods might be more expensive, but they are often safer, provide better schools, and may generally provide a better investment in real estate. Saving money by not going on vacation deprives both you and your children potentially life changing experiences. Hoarding money by not giving to charity, or even your own children, does it's own kind of spiritual damage.

The sections involving children are especially worrisome. If one follows the advice in this book religiously, a first generation millionaire family will likely end up a third generation pauper. It is important to teach children self sufficiency, but it is equally, if not more important, to teach one's children to manage million dollar investment portfolios, and to make informed decisions on budgeting and allocations of large amounts of money. After all, a wise person would not leave a large financial legacy without the tools to use it properly.

The generation of wealth is not a goal in itself. In one example presented in the book, a woman expressed the goal to retire with five million dollars. Yet in the process of doing so, they live like paupers. This woman might never see retirement, might never enjoy all that money she carefully hoarded, might forever miss out on the joys and experiences that wealth can provide. Save for retirement of course, but never forget that we only get one life.

And in the end, that's where this book fails. Truly wealthy people certainly plan for the future, invest properly, and save much of their income. Yet they also try to enjoy the fruits of their labor, and they share their wealth as much as possible.

If you are not a millionaire but want to be, read this book. It's much of what your upper middle class parents should have taught you, but it's not everything, If money is all you care about, you will do well to follow the advice in this book. Yet if you wish to lead a rich life, the kind of life full of experiences and learning and yes, even of civil responsibility, you will do well to moderate your zeal of living the frugal life outlined in this book.

27 of 28 people found this review helpful

Overall

5 out of 5 stars

Heath

19-06-2005

If you aren't inheriting it...

What's so interesting about this book is that unlike the "Rich Dad, Poor Dad" and overnight millionaire books that deluge the market, it's based on good research and interviews. This will not tell you how to flip properties or find probated estates. It will tell you how to model the behaviors of people who have been in the same situation you find yourself in and have had the same success you want. Really well done in both content and narration.

36 of 38 people found this review helpful

Overall

5 out of 5 stars

Ms. T.

01-09-2008

EXCELLENT, EXCELLENT, EXCELLENT!!!

What an incredible book full of insights that are based on sound research. Thomas Stanley, and William Danko, have really hit a home run with this book. Best of all, there is no prieching, just what they learned from their research about how real millionaires live. This book serves as a reality check for many I am sure.

11 of 11 people found this review helpful

Overall

4 out of 5 stars

Kestrel

31-01-2006

A bit repetitious, but good information

The overall message in the book is this: if you practice old-fashioned thrift, if you make saving as much a part of your life as spending, if you take the time to learn how to invest, and if you think in terms of wealth (that is, net worth) rather than income, then you, too, can join the ranks of the millionaires next door.

This comes from studies of real millionaires -- not the multi-billionaires of the world, but average Joes and Janes who, at retirement, are worth several million, even though they earned modest incomes during their working years. The book uses data from the study to point to the best saving and spending practices.

The unabridged book does get a bit repetitive, and the reader's slightly monotone voice doesn't help matters. However, repetition of information turned out to be an advantage while listening in the car, since I couldn't always give the book my full attention.

If you want to know how to get lots of money quick so that you can go buy lots of status toys, this is not the book for you. This book is about acquiring and keeping wealth, regardless of your income, so that you can live well and retire well. Flashy toys will only keep you from that goal.

68 of 73 people found this review helpful

Overall

5 out of 5 stars

Gregory R. Martin

13-02-2003

What

This book details the startling results of a comprehensive study on the wealthy in America. The authors fully explain key concepts about wealth-building that will help the listener identify and change their own bad financial habits. Examples: the difference between "high-income earners" and "the rich"; who the wealthy really are; the characteristics of people who are accomplished accumulators of wealth, usually with very moderate incomes; the self-destructive behaviors of people who earn high-incomes that prevent them from accumulating wealth; what to teach your children about wealth; how the wealthy plan the transfer of their wealth to their children and grandchildren. Although long and full of statistical concepts, this book should be required reading for those who truly want to learn how to increase their wealth. There's no theoretical fluff, multi-level marketing promotion or vague "Rich Dad" slogans here. Just hard data based on actual American millionaires and how they built their fortunes.

85 of 92 people found this review helpful

Overall

5 out of 5 stars

Mason

13-02-2008

Light Went on in My Head

I loved it, so much in fact that I just finished "The Millionaire Mind" as well, which was also great. "Next Door" made me see the light as far as why most people don't have anything but toys & debt, and that expensive houses, new cars and fine clothes do not a rich man make, nor will they ever. Living below your means and being frugal is the key if you have good income such as a small business. Do not follow the crowds, or the hot trends, do the opposite. Much better said by he than me of course. It is not a dot-to-dot recipe for wealth, just eye opening insight based on years of research and interviews, much of which is the opposite of what you'd think. Get it!!

42 of 46 people found this review helpful

Overall

5 out of 5 stars

Stephanie

23-01-2004

Lifestyle Affirmation

To a young adult raised in a family of under-acheivers-of-wealth (UAW's)this book affirms the goals, techiniques, and saving strategies my husband and I have begun implementing in our life together. It is such a relief to hear statistical support for the benefits of saving, investing, and living below one's means. In a nation of UAW's, it is not often one comes across positive feedback for living frugally. I have watched friends, family members, and co-workers squander the income they earn, rack up high debt, and plan for the spenditure of income increases in the future. I will listen to this book again and again.

16 of 17 people found this review helpful

Overall

3 out of 5 stars

Tracy

26-11-2007

Good but long

Great content, but some topics dragged out too long.

6 of 6 people found this review helpful

Overall

4 out of 5 stars

Michael

29-03-2005

An interesting piece of sociology

As someone with a degree in economics, I found "The Millionaire Next Door" very interesting with its various methods of evaluating how the 'wealthy' behave. The book provides some great examples of varying perceptions of utility. In fact I have used the buying cars by the pound example more than a few times. Not suprisingly, the vast majority of the millionaires studies subscribe (perhaps unwittingly) to the bathtub theory of economics... make sure that more money is coming in than going out. Unfortunately not enough people follow this sound piece of advice.

As an entepreneur the study of the small business owners were fascinating. I'm still reeling from the fact that scrap metal is the number one producer of millionaires in this country. I passionately recommend this book to anyone that is looking to start their own business. I know that I wish I had read it much sooner than I did.

30 of 34 people found this review helpful

Sort by:

Overall

5 out of 5 stars

Mohammed

29-12-2011

Briliant.

Fantastic this book has changed my life. This book is also recomended to me by Brian Tracy

9 of 10 people found this review helpful

Overall

5 out of 5 stars

Michael

23-12-2012

Makes money sense

Sobering read in todays instant gratification world. The chapters in this book will shift most peoples paradigms on wealth and its accumulation. The book provides a sages worth of attitude changing insights into why individuals need to be more conscious of money management. It indirectly also provides hope that with the right money and investment attitude, regardless of the level of current income, one can make steady progress towards a significantly improved financial position over the long run.

8 of 9 people found this review helpful

Overall

5 out of 5 stars

Performance

5 out of 5 stars

Story

5 out of 5 stars

Bernice

21-06-2016

Very Different!

I have listened to many wealth books and found this one quite different and very, very interesting. For example there was a section about how children of the wealthy can be inspired to be independent rather than just spend their parents' money. There was also insightful information about inheritance. Although the book is American and a little old now, I believe these principles still hold.

I did not expected to enjoy this book, but I did. I could not believe when the audiobook came to an end, I was so engaged.

I would very much recommend this book. I would say a must for parents who have adult children they are supporting, or those considering how to pass on their wealth to their offspring in the future.

Recommended.

2 of 2 people found this review helpful

Overall

5 out of 5 stars

Performance

4 out of 5 stars

Story

5 out of 5 stars

clive

24-04-2016

Spend 8 hours now to save 8 years work( or more ! )

A must listen book about personal finance . Much of today's personal finance writing has been inspired by the findings from the studies discussed in this publication . Everyone will learn something about personal finances and importantly themselves in the stories told in The Millionare Next Door .

1 of 1 people found this review helpful

Overall

5 out of 5 stars

Performance

5 out of 5 stars

Story

3 out of 5 stars

Judy Corstjens

25-09-2016

A fascinating analysis of a rather niche topic

The two authors have done vast amounts of thoughtful research into the spending patterns of affluent Americans, and the book often sounds like a market research report. This does not mean that it is not a fascinating piece of work, though I imagine it will not appeal to everyone. Thomas Stanley and William Danko set out a clear definition and analysis of what wealthy means, in their eyes. Their ‘wealth equation’ - age*gross annual income /10 - allows the authors to calculate an 'expected net worth' for individuals and thus determine whether a person is an accumulator (net worth > than estimate) or a spender (net worth < than estimate). They then compare the extremes, 'Prodigious Accumulators of Wealth' (PAWs) with ‘Under Accumulators of Wealth' (UAWs). This is in itself and insight. The key to being ‘rich’ (under their definition) is to live substantially below your means. In their world, PAWs are rich (even if they only have a net worth of $400k) and UAWs are poor even if they live the high life, subsidised by their parents or credit. This is actually more philosophical than financial – frugal PAWs feel financially secure and have the confidence that comes from being 'self-made', spendthrift UAWs worry about money and their old age. It’s very Mr Micawber: spend 19 pounds, 19 shillings and six pence, result happiness (though Micawber’s formula implies a surplus of 1/40 or 2.5%, S&D suggest you should aim for 10% or more). Stanley and Danko have also observed and then thought deeply about how the financial attitudes and behaviors of parents impact on their children. Many PAWs get it right by instilling the correct values of frugality and independence in their children. They help them with education and perhaps a house purchase or business investment, but they do not push cash gifts on their adult children. Unwise PAW parents use their wealth to cosset and/or control their children, while UAWs instill their spendthrift ways in their own offspring. Americans seem to think and talk more freely about money than we do in the UK, and the book is very US orientated, but I found it really useful to help me position myself in this domain. Obviously, the ideal is some Aristotelian virtuous median, to be neither a tight-wad, nor a spendthrift. This book will have a permanent impact on the way I handle the transfer of wealth to my own kids; I am going to spend more on myself (and my hardworking frugal husband) convinced that their independence is more valuable to our children than free cash.

2 of 3 people found this review helpful

Overall

5 out of 5 stars

Performance

5 out of 5 stars

Story

5 out of 5 stars

Ronan Gavigann

10-12-2018

good

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Overall

3 out of 5 stars

Performance

3 out of 5 stars

Story

3 out of 5 stars

David mackay

19-11-2018

Found it difficult to indure,

Really struggled to conncet to this one, just found the narrator mono toned, not for me.

Overall

4 out of 5 stars

Performance

4 out of 5 stars

Story

4 out of 5 stars

Amazon Customer

07-10-2018

Great book for beginners

Great tips on how not to conform to the materialistic and consumeristic culture we now live in

Overall

5 out of 5 stars

Performance

5 out of 5 stars

Story

5 out of 5 stars

Anonymous User

08-09-2018

Very informative booked

I think this is a book everyone needs to read to understand the true characteristics of how people become wealthy. Very eye opening and informative book. The best financial book I have ever read.

Overall

4 out of 5 stars

Performance

4 out of 5 stars

Story

3 out of 5 stars

Andrew

27-04-2018

Very factual but not hugely entertaining.

Was a bit of a grind getting through it as several points were laboured to death. If there is an abridged version I'd recommend that instead.